with the cats. >> a kind of calls into question using professional brokers, right? your thinking, they have the education committee experience, but a cat can do better. wasn't there a giant squid or octopus that was picking the super bowl is something like that. melissa: i have no idea what it was. the world cup. that's what they're telling me. >> so, the world cup. that's right. melissa: did try to make the argument that it was about an efficient market. all right. the next one, another new airline. fliers on south west airlines cannot pay $40 to board the plane first. you can pay at the gate 45 minutes prior to departure. would you pay this much is to sit on the plan longer? >> yes. >> and up. analysts were comparable, sensible shoes.

that is true. no. i went -- i am one of those nervous fliers, not nervous about actually flying, boarding and stashing my stuff. melissa: looking at your boots. >> income inequality taxes would get rid of it. melissa: that's all the "money" we have for you today. o.c. becker tomorrow thanks to both of you. gerri: -- "the willis report" hello, everybody. i'm gerri willis. tonight, hold onto your wallets. ceos from around the globe telling us how to spend our hard-earned cash for climate change. a look at the billions of waste will dollars and how much it's costing you. end of breakdown a new report showing how many trips to the moon you can take in the amount of time it a stake in the senate to pass a budget. also, one of the highly recommended retirement investments falling short. we will "cover your assets" as we look up for you and your money. "the willis report" is on the

case. more on target date funds coming up later. first, tonight's top story, record low temperature sweeping across the united states and langdon, north dakota wind chills but the temperature down to what felt like-51 degrees fahrenheit. imagine, frigid temperatures close dozens of schools and so far two deaths have been reported due to cold exposure. it's just starting. this week forecasters predicting we will be seeing the coldest temperatures in two years from the upper plains to new england and down to the midlantic. despite the bitter cold, world leaders are pushing to spend $14 trillion to fight global warming. these leaders are meeting in switzerland at this year's annual world economic forum.

get this, they are telling us how to spend our money. they say the only way to insure long-term economic growth is to spend $700 billion per year until 2013 to make the world economy more green. that's $14 trillion. joining me now, the heritage foundation who focuses on energy, environmental regulatory issues. i have to tell you, you have to hear what they say. the former mexican president talking about the goal here. economic growth and sustainability are interdependent. you cannot have one without the other. what do you say? >> well, if that is the case what we need to subsidize it with taxpayer dollars? if this is such a profitable idea, if the green energy market is a multitrillion-dollar economy, then let the ceos and venture-capital this figure that out. while this been a your money in my money? it makes economic sense. this culture of promoting these

ideas with government capitol only creates government welfare or corporate welfare and creates corporate dependence. gerri: companies that fail as we talked about some many times in the show. whether you're talking about solyndra or a number of others that our government financed. you would think that maybe these are just wacked-out the trees coming of the wild ideas. and back, this green growth alliance has members like the world bank, deutsche bank, any number, ge can hsbc as members. these big companies who went to up the bus in their expensive airlines to my drinking champagne, and they're telling us what to do with our taxpayer dollars. it just makes me angry, and i think what is the fairness and that? >> there is no fairness. and it is something, the occupy wall street and the partnership agreement among corporate welfare. these huge companies are really

pigs at the trough when it comes to a taxpayer money, and does not matter how big or small the company. there is money to be had these companies going to go after it. we side with the cap in trade, just floating the idea of a carbon tax, how people and ideas on how to spend that tax revenue. this is what happens when you create new revenue streams. these companies are going to come crawling for it. gerri: on sure you heard the president speaking at the inauguration talking about how important investing in green energy is, how he intends to continue, but there is no track record of success with department of energy. what do you say? >> that's exactly right. if you look at the tens of billions that were spent in the stimulus bill, a lot of failure, and the success, again, that is only patting the bottom line of the companies that were successful. take a look at western europe, countries going bankrupt and there are scaling back subsidies. they're not doubling down because they realize that this is a tried and failed approach. exhibit a and b1 not to do this,

not to spend hard-earned taxpayer dollars investing in these grain subsidies because they simply don't work and are necessary. gerri: what is really interesting is that we have had an energy explosion in our country. it has been led by natural gas and fracking. the president cannot claim any responsibility for this. something in energy is really working, but it is not the green initiatives. >> that's right. it happened in spite of the president's policies, not because of them. you have an effective state regulatory regime that excessively regulated her hydraulic fracturing. you have had this explosion in economic growth, low energy prices which is saving consumers a ton of money. more money for them to go to the movies can go out to eat and pad their wallets and just the economic growth that is revitalizing the manufacturing sector, in many countries like ohio and pennsylvania that desperately need it. gerri: that's absolutely right. it has been an economic boon for some states out there. i guess we need to sit down and read a letter.

thank you for coming. appreciate your time. >> thank you. gerri: now we want to know what you think. here's a question. should the world economic forum tell us to spend more on climate change? log on to gerriwillis.com, vote on the right hand side of the screen and a share the results of the end of the show. i think it's crazy talk. well, if it's not bad enough for a bunch of bureaucrats in switzerland to tell us what to do with the money, our own federal government never stop twisting it. the investigation began in congress to root out waste and spending on computer systems. california congressman darryl i said is the chairman of the house oversight committee that is running the investigation. he joins us now. welcome back to the show. what is our most important finding? >> the most important finding is that we lose on i t for information technology procurement into ways. first of all, we waste about 20-$30 billion of what we spend

a new production. in other words, hundred million, 500 million, billion dollar program to get rid of unsuccessfully. the other part is that 75 percent of what we spend our money on its legacy systems. what i mean, often systems for which the computers they ran on no longer resist and we're constantly trying to the support systems that only the older part of your audience would remember to make them work. gerri: let me pylon here for a second because i have been to the department of hud where they actually were running kobold. the systems are sold, so antiquated you cannot imagine the patches and fixes are going to work. now, some of the numbers you are coming up with i find frankly fascinating. government spending 81 million a year on 90. one in four of those dollars you say is being wasted. is that acceptable? >> it is not acceptable. because they're throwing money at it from the low '40's to

$81 billion in tin years, clearly more money is not the solution, but doing things differently has to be, including holding vendors responsible with a plan that if the program does not work we don't play. so the eye to reforms that our committee is draft proposing does that, and that will give you another one that our committee was furious about. years ago our committee created what was called the chief information officer position or cio. there are 24 major agencies in the government. 243 cio. i don't know what the word chief is supposed to mean exactly, but it certainly does not mean -- a lot of indians calling themselves season being paid well for the reid will need to change that committed but it's aligned. gerri: it looks like a company having scores of ceos. i can't imagine how that works. another example from the gao study because i think it's hard for people to understand the redundancies, the way government just wastes money every single day.

in the department of defense maybe they have personal a sign systems, one for officers, another one for enlisted personnel in the third to reservists. that would seem to make no sense. consolidate, save money for taxpayers are putting up knew bill. it just makes no sense. gerri: are not only right, but i give you one that shouldn't urea even more. i went on active duty as an enlisted man in 1970 and left active duty as an officer in 1980. i had two sets of records, sometimes three at all times. my active duty records, the reserve in st. louis had another set the burned, and the veterans administration maintain another set. particularly when you're talking about returning veterans who have injuries, having multiple medical records that are not computerized is also a terrible, and we have been working on it since i left active duty in

1980. clearly if we keep throwing money we will get there. gerri: what are we going to do jack because this -- i mean, this is ridiculous. cobalt, are you kidding me? >> our draft legislation to know we are reaching out to people to get input, particularly from the private sector. we intend on overhauling the system and saving the 20 or $25 billion to my reply to systems that work for sending it back to the taxpayer. i think that is the beginning of it. let me give you the other part of my teeth. it is not the 81 billion but the fact we don't know where the waste, fraud and abuse is because the systems to work. if we get the system to work properly through better procurement of happens is we start seeing the hundreds of billions of dollars being wasted, and that's where the real savings to the american people will come from. gerri: before you go, have to ask you about the president's inauguration speech. what did you make of it and please address all these stories about how fractured the gop is right now?

a lot of talk about how the party, congress in particular, is not going to be able to respond, not going to be able to save money for the american people. >> first of all, we are very united in the republican party on saving money. we on the control one-half of one-third of the government, but we are very united. we are also a party of individual liberty and thought. a lot of our members are trying to find better ways to stop the president is given a 18 minute address that was absolutely all liberal agenda. you know, beyonce lips sink her song, but the president's tax on could have been easily figured out by simply going to the progressive playbook in reading of all the ones that he articulated for his entire -- gerri: but you did not seem to see an olive branch being extended across the aisle in that speech. >> he did not even give us a cut off and of one. clearly the president has an agenda. he is going to try to push it, and that agenda is very

expensive. look, we would support bigger government a bigger gun was the solution. i think the american people know that our government is already bloated, cutting up opportunities to be job creation is except that energy sector in fact lethargic. we're going to be the other part of that discussion that, in fact , low-cost carbon coming in the form of natural gas exports is part of what america can do. low-cost energy is what brings prosperity to the world. gerri: well your there can you please tell call the wrong we don't want to send and 14 trillion for green energy please? >> said absolutely well expressed the fact. we have to make sure it pencils out rather than simply being subsidized. at the cost of the ratepayers. men and women in america you pay more for electricity don't realize what they're doing is

being asked to pay more for something that although they feel good about it is never in the foreseeable future going to get to be more than 20 percent of the source and effectively it is : natural gas and making it seem like electricity is still affordable. if you had to buy all your energy from wind you could not afford your electric bill. gerri: would have no energy. you have to wear big winter cuts in your house. thank you for coming out tonight. come back soon. >> thanks. sure will. gerri: a lot more to come, including one of the most popular retirement investments starting to come up short. what you should do with your money. and the senate has gone almost four years without a budget. next, what we could have done all of that amount of time like flying to the moon and back 179 times. don't go away. ♪

[ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece?

♪ whatever your business challenge, dell has the technology and services to help you solve it.

♪ gerri: well, yesterday i talked about all for phil mickelson and his comments, he needed to make drastic changes in his life because of higher taxes. he is facing in the 13 percent income tax on millionaires in california and an increase in its federal tax rate to 39%. now, you would have thought somebody shot bambi. forbes been a business and cider and other sticking issue with all its most popular player because he dared to complain publicly about tax rates. move over. the you like those pictures? it's great to see him. i say leave him alone. look, even highly popular athletes have freedom of speech. you don't have to go too far to find sports figures that say things more ridiculous. new york jets player antonio, marty. he could not even name all ten of his kids, for goodness sake. or baseball player alex rodriguez to said therapy can be

therapeutic. right. the last time i looked all americans have freedom of speech, not just occupy wall street protesters. what's more, there may well be a lot more complaining in the future. democrats say any budget they submit will have higher taxes associated with it. that's right. they're not done yet. here is what new york senator chuck schumer said over the weekend, and i quote, it is going to be a great opportunity for us because in our budget that we will pass we will have tax reform, which many of my republican colleagues like, but it is going to include revenues. a great opportunity to get more revenues. rehire texas. now, republicans say they are not taking this line down. they have been fond of reminding americans it has been for years, four years since the senate has written a budget. today they upped the ante with these calculations. democrats last above the way back in 2009, three pentagon's

cabin built, not that we have the money to do it, just the time. a mountain climbing team could have made it to the top of everest and back 292 *. finally, we could have built all 179 miles of the keystone pipeline in that time the senate has been sitting on its budget riding pants. you get the picture. we have been waiting. they have been dawdling. bottom-line, and still could end up being the canary in the coal mine. one guest just they told me and other highly paid athletes might move out of the country, say to the bahamas to avoid paying u.s. taxes. the democrats have their way and raise taxes again, talk about divide between the wealthy in the port. there will be no wealthy. it will all of move of the country. you think of getting? you tell me, where is former french president nicholas sarkozy? the country where the socialist president plans to introduce a 75% tax rate on millionaires.

according to investigators, he has apparently left the country and taxes have something to do with it. coming up, house republicans have a plan for the debt ceiling. they may want to be careful what they wish for. next, what was once considered the best investments out there not performing. we take a look get next. it's a new day. if your a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. ll your doctor about all medical conditions and medications.

do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. see your doctor, and for a 30-day free trial, go to axiron.com.

♪ is your retirement at risk? critics are saying the way it is invested might not be getting you the best returns. reticulated their claims.

♪ gerri: you have heard of them, chances are your ability

invested in one of them if you have 401(k). they shifted assets from stocks to bonds as you get older and departure target date of your retirement date. some experts say they're coming up short. joining me now, chief market analyst for john thompson financial. welcome to the show. we have been looking at numbers on these funds all day long. let me tell you, it could not be less impressive. take a look at the returns on 2015 target funds last year. the sounds good. the s&p 500 index was up 16%. they're underperforming the broader market. and a lot of people out there say we were disappointed with the performance back in 2008 when the market was tanking. there were tanking even more, and now the market is up and they're not doing as well. what gives? >> the two dozen the performance caused a might think, the typical overreaction on the part

of people who supervise these ts of things and manage them. but as you said, these funds shift the allocation from stocks to bonds as they get toward the target date which is supposed to coordinate with somebody's retirement date. on the face of it, that makes a lot of sense because you are supposed to be reducing your risk as you get older. gerri: reality. i mean, the reality is that the market is fluctuating, and you might want to make some investment decisions based on that. >> that's right. i'm against any type of what i call mindless investing. these types of investments appeal to people because a lot of people want to go on autopilot. they don't want to make decisions, but the problem can be, you can be shifting into or out of stocks into bonds at exactly the wrong time. that might be happening right now. gerri: because people would be getting out of these things. what do you mean? >> the automatically take you from stocks. gerri: to bonds.

gerri: there is an inflow into equity funds, stock funds f $14 billion for the one week. that was more than any entire month going back to january of 2011. we might be seeing away from bonds and stocks. for some people, especially those who were hurt in 2008, they might be shifting out of stocks into bonds at exactly the time they need more exposure to equities in order to make up for what they lost it. gerri: so timing can be very very wrong. as we were showing you, investments have gone through the roof. the past six years assets have grown fivefold. there is more marketing muscle behind the started funds than doritos. this is -- these funds were made up to make people feel safe investing. the reality is, investing is not safe. have to take risk to make money.

>> and that is why they're a think they're bad ideas for the most part. i think a better idea is to a buy, if you want a mutual fund, buy a balanced fund that does have stocks as well as bonds, but where you have a manager who is making the asset allocation decision based on what is happening in the market as opposed to an arbitrary time table. markets and not try to listen to an arbitrary time. gerri: and that is the problem with that whole idea. people get so nervous about investing. there really want to set it and forget it. but the reality is you just can't. i just want to cite some vanguard numbers. 82 percent of their retirement plans have targeted funds. a quarter of the investors in these funds had all their money in target date funds. i would ask you tonight, get your retirement, see if you have any target date funds, how they're performing. you may think that 10 percent is good. they keeper, not. appreciated.

i feel riled up. i hope people will take a look. >> it is important. gerri: 90. another chapter drawing to a close. a judge sentencing the star prosecution witness. james davis was sentenced to five years in prison for bilking investors of more than $7 billion. as but guilty in 2009. could have faced 30 years behind bars. testified during the trial. the two men fake their bank profits and fabricated documents when we come back president obama speech yesterday was not just lacking in message and unity. it was missing any mention of one big issue permits jobs. and now the pomp and circumstance is over. congress back to work with the house set to vote tomorrow on the debt limit. will the white house for a good? ♪ this is $100,000.

we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. have given way to sleeping. tossing and turning where sleepless nights yield to restful sleep. and lunesta®(eszopiclone) can help you get there.

like it has for so many people before. when taking lunesta, don't drive or operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations, or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness, and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunesta for as low as fifteen dollars at lunesta.com. there's a land of restful sleep. we can help you go there on the wings of lunesta. (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading.

their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." hey, buddy? oh, hey, flo. you want to see something cool? snapshot, from progressive. my insurance company told me not to talk to people like you.

you always do what they tell you? no... try it, and see what your good driving can save you. you don't even have to switch. unless you're scared. i'm not scared, it's... you know we can still see you. no, you can't. pretty sure we can... try snapshot today -- no pressure. from our fox business studios in new york, here, again, is gerri willis. gerri: with are not worthy for another four years of president obama? despite the political system putting him in office again, white house communications director telling the washington post, listen to this, there's a moment of opportunity now that is important. what's frustrating is that we don't have a political system or an opposition party worthy of the opportunity. wow. with more on this, steven hayes, senior writer for the weekly standard. steven, how can we move forward

if the president's press people say stuff like this? >> yeah, that was a remarkable comment. particularly, given the fact it was published on the president's, at least the ceremony yal inauguration day, and the day in which the president addressed the calling for civility and unity. you, i don't think he meant it. it's what we're looking here in washington is this kind of confrontational aggressive liberalism from the president, but you have to ask what did dan mean when he talked about a political system that's not worthy of the president? i mean, does he want the president to be able to make all of these decisions by fiat? by the wave of his hand? gerri: imperial presidency. i think sometimes that's what they are looking for, executive orders, that's the way to go, comes down from the administration, ask yourself how much power do they want? for example, the republicans talking about putting forward a bill that rolls the debt ceiling

out, suspend it for awhile. will the president go along with that? >> yeah. the white house indicated he's at least not going to try to block it m i think they preferred a long term clean debt limit, and we talked before here that the real preference would be for, you know, the congress to step back from its role in the debt limit, but i think they are going to go along with what house republicans are doing here. there's question as so whether senate democrats are going to do a budget. chuck schumer who is in the democratic leadership in the senate suggested over the weekend that they were, in fact, going to do a budget, that they had plans to do one all along. i believe it when i see it. gerri: so little credibility on the issue. i mean, four years, four long years with the senate on its hands the whole time. aren't they just a little embarrassed about that? >> you know, i would think so. i think this goes to presidential leadership.

this is something we didn't hear from the president yesterday. there were actually four sentences total in the 2200 word address, and when he talked about entitlements and debt, he did it in a dismissive and defensive way. look, we'll protect the programs. he didn't hint at any solution or willingness to engage or be serious about debt and deficits. gerri: i think that's critical because he talked about how it was our responsibility, our obligation to make these payments, but, yet, he's got a situation where the current system can't sustain making payments. >> can't, exactly. gerri: so i mean to make the promise and not deliver, that's irresponsible in my eyes. how do you view it? >> totally agree with you. look, it's such a different president. at least president obama when inaugurated the first time around back in january of 2009 was saying the right things. he was saying, look, we need to get ahead of this, vowed to cut the deficit in half, which, obviously, never happened. he said he was going to focus on entitlements as a way to return

the country to sustainable fiscal policy. he has not done any of that, and now what i think struck me at least most in his comments yesterday and in his speech yesterday is he's done pretending. i didn't buy it. at a certain point if you don't produce it, the burden of proof is on him. now it's like he's done pretending. we're going to have investment. we're going to protect these programs. m agoing to defend the progressive agenda and not serious about the other issues. gerri: my way or the highway is how i read it. get on board. terrorist -- it's my way. i don't know how republicans combat that. all they have is the house. at the end of the day, you know, what are the options for leading? >> i mean, i think there are basically two objectives. if you're the house republicans, two objectives. one, try to limit the damage the president can do. try to do everything you can to avoid a debt crisis.

that's a real possibility. the president doesn't. second, you want to provide for voters a contrast. you want to demonstrate to voters you're serious, taking the job seriously, trying to address issues, but that in effect your powerless to do it with the majority of just one house of congress. i think if they do those two things and make very clear that they have a different path with different policy proposals, that will serve them in good when they go back to voters in 2014 and 2016. gerri: a long four years. come back soon. great to have you on the show. >> thank you. gerri: thank you. well, we want to bring you the latest developments on a story we care deeply about. the nebraska governor approved a new route for the keystone pipeline through the state. now this new route avoids the state's environmental sensitive sand hill region. the original route would have been through the erodable grass covered dupes and could have

contaminated ground water supply. a big debate over that. no word on yet if it moves obama to make a decision that could create thousands of jobs for americans who desperately need them. when we come back, is the obama administration the least transparent? history? a new report. mentioned gay marriage, immigration, climate change, but where was the talk about unemployment in president obama's inaugural address? more reaction coming up. ♪ what are you doing?

nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office.

♪ gerri: democratic apoll gists saying the president gets to the economic agenda, get to it in the state of the union next month. don't hold your breath. the 2,000 word speech from the inauguration, the economy, the number one issue for so many voters, is only mentioned three times.

with more on this, todd buckles, former white house economic adviser to president george hw bush. todd, welcome back to the show. was this frustrating for you? >> well, who cares about me, gerri. i care more about -- really -- gerri: i wanted your economic analysis here. >> well, i care more about, and the president should care more about the millions of americans who can't find work. you know, it's funny, a week or so ago, the "new york times" and other publications agas at the snub of ben affleck, but the job market and the economy was snubbed yesterday by president obama. gerri: right. well, you know, it's almost, i mean, the list of things he's interested in are so divorced from the day-to-day needs of most americans. it's almost astonishing. >> well, that's right. look, we've had a 7.8% unemployment rate, and, of course, if you include

discouraged workers, it's well into the teens. this is not a strong economic recovery at all. it is a glacial economic recovery. president talks so much about global warming. i wish he would talk about the glacial recovery. pace it, by this time, gerri, the economy, it's not his field. he's interested in basketball. he's probably got pronouncements about the super bowl coming up. gerri: not one you or i put at the top of the list, probably, like developing green energy on the public dime. i mean, let me ask you this, though. let me ask you this. he said the economic recovery has begun. do you agree with that? the recession has actually been over for well over two years. it's in the past. it's in the rearview mirror, but it sure does not feel like that, even now. >> well, that's right. in fact, gdp turned positive in july of 2009. it's been more than a couple of years. gerri: three years, yeah. >> and yet it doesn't feel good because the jobs are not being created. look, is the economy getting

better? yes, but at a painful pace. i mean, if it weren't for oil drilling and natural gas prices and fracking and all the things this president despises, the economy would be significantly weaker. to the extent the economy's gotten better, it's not because of the president's policies. it's been despite the president's policies. gerri: well, you know, i'm starting to wonder whether the democrats think that maybe they'll introduce more stimulus because we've already got chuck schumer, senator from new york, staying, we need higher taxes, coming for even more taxes. will they try the old stimulus trick again, a dollar in every pot? >> well, i do think so because that's how they buy votes. look, politicians are political entrepreneurs, supplying the customers. with what? free stuff. that's stimulus. boy, stimulus and this white house and this congress, that's like handing your car keys to lindsey lohan asking her to park

your vehicle. doesn't go well. i hope we don't go down that road. the democrats have the power, enough votes, and if we're upset, blame the american people. the president accounts like he got 70% of the vote, but, heck, its his prerogative to rule as if he has a strong majority, and that's what he's doing. frankly, i can't blame him for taking that tack. it's not good policy, but this is what the american people voted for, and now the american people will see the consequences. gerri: listen, you know, it's not just about the white house. it's not just about the legislation. it's about congress. it's about the courts. our system doesn't allow for an imperial presidency, and i hope cooler heads prevail. great to have you on the show, todd, thanks for coming on. appreciate your time. >> good to be with you. thanks for having me. gerri: thank you. well, making stuff in america has become the cool thing to do.

a recent survey says 80% of the americans are willing to pay more for made in america products. it also helps the u.s. customs and border protection stepping up the seizures of counterfeit goods made overseas. last year, it was more than a billion dollar. the most counter fitted products in 2012. number five, footwear. the feds took in more than $103 million worth of shoes, mostly from china. number four, consumer electronic. the feds seized more than $104 million of new yorkoffs, smart phones, tablets from hong kong. three, clothing. 133 million worth of counterfeit clothing with labels taken during 8,000 seizes. 11% of the total value. number two, watches and jewelry jumping in popularity when $187 million in watches seized last year mostly coming from singapore and china. the number one most

counterfeited product is? you guessed it. it's hand bags. women spend so much money on hand bags. nearly half of all counterfeit products stopped at the border were handbags, up 22% from 2011, a value of $511 million. other items on the list, pharmaceuticals, toys, the list goes on and own and on. still to come, my two cents more on guns and next is president obama starting the second term, we'll take a look at the lack of transparency in the first term. is this a sign of more things to come? ♪

gerri: new era of transparency, one of the many promises obama made to the american people in the first day in office four years ago. >> let me say it as simply as i can. transparency and the rule of law will be the touch stones of this presidency. >> this is the most transparent administration in the history of our country. >> to the general public? gerri: a touch stone, but a new report shows the president failed on this promise. joining me now, chris horner, senior fellow for the competitive enterprise institute and the author of "confessions of freedom of information criminal." chris, welcome back to the show. good to see you. so let's tell people what's at stake here when we talk about being transparent. what is it you're wanting to see that you can't get at? >> oh, well, many things. i'm finding that they have established false identities for

federal recordkeeping purposes to keep certain correspondents, apparently correspondents they didn't want people to see to reflect well on them. they moved government over to aol to conduct the deals of the drug companies and so on to strike the obamacare deals, gmail, private computers, private servers issue and document destruction. the motive neutral, i don't need a reason, but president reagan said i'm paying for this microphone, but we're paying for the government. i don't need a reason. these are our records unless they prove they are not, and they can't make that case. gerri: the track record on transparency. a lawsuit where you say i want this information as a citizen of the usa, and you're supposed to get it. the lawsuits jumped 28%. 82% of government agencies have not updated regulations despite the fact the attorney general told them to do that. here's one that blows me away, and tell me about this, chris. 19 out of 20 cabinet level agencies broke the lay requiring

the disclosure of public information. tell me about that. what happened? >> well, just not that into transparency. i congratulate them for elevating it, but they don't get the joke when it's not about the other guy. they provided same day service with friends when it came to bush. gerri: this is not somebody in a post office j in the middle of the country, you know, shredding documents. this is in washington, d.c.. we're talking about documents that presumably we're paying for all the information in it that are being destroyed or removed. >> well, not presumably. we are, or our children are. the fact is they are not that into it. remember, it should not come to filing a lawsuit, but it increasingly does because they are inventing ways not to prevent records, and not ways to turn them over. when they produce, they destroy them. i mean, false identities document destruction. i have affidavits from government officials noting criminal activity. they are not that into it.

en congratulate them for elevating with claims being the most trarns parent, but violations and abuses. >> gerri: okay. where is this most likely to happen and what agencies? >> a neck and neck race to the bottom. state looks by the numbers to be worse. egregious violations at epa. they have the most to hide. treasury pulled bizarre stunts to keep carbon tax, trying to charge us thousands of dollars to copy e-mails for carbon tax. e stands for electronic. they create excuses to keep things away from us. gear gar what was the epa doing, chris? >> they are using gmail at the regional administrative level, created a dummy employee to install this person, this man's lotus notes account ob three computers of the female administer, lisa jackson, and

the name is richard winser. he's not working at epa. >> who is that? >> the alias for producing certain conversations she doesn't want us to see. gerri: wow. well, chris, that's amazing. thank you for coming on tonight. now you know what's important in transparency. explainedded well. appreciate the time. thank you for coming on the show. >> thank you. thank you. gerri: we'll be right back with two cents more and should the world economic forum tell us to spend more on climate change? ♪ ♪ ♪

[ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. [ slap! ] [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium-rich tums starts working so fast you'll forget you h heartburn. ♪ tum tum tum tum tums

aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪

♪ gerri: the world economic form up at a gathering complete with